Zacks: Brokerages Expect The Medicines Company (MDCO) Will Post Quarterly Sales of $3.52 Million

Analysts expect The Medicines Company (NASDAQ:MDCO) to report $3.52 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for The Medicines’ earnings. The lowest sales estimate is $1.20 million and the highest is $8.94 million. The Medicines posted sales of $8.60 million during the same quarter last year, which would suggest a negative year over year growth rate of 59.1%. The business is expected to report its next earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that The Medicines will report full year sales of $15.16 million for the current year, with estimates ranging from $12.00 million to $27.66 million. For the next financial year, analysts anticipate that the firm will report sales of $25.39 million, with estimates ranging from $5.10 million to $74.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover The Medicines.

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The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.13). The business had revenue of ($3.30) million during the quarter, compared to analysts’ expectations of $1.88 million. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The Medicines’s quarterly revenue was down 141.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.19) earnings per share.

MDCO has been the topic of a number of recent research reports. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the company a “buy” rating in a report on Friday. Citigroup upped their target price on shares of The Medicines from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 20th. BidaskClub upgraded shares of The Medicines from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, August 7th. Finally, ValuEngine lowered shares of The Medicines from a “buy” rating to a “hold” rating in a report on Monday, September 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.71.

NASDAQ:MDCO traded down $0.20 on Friday, reaching $23.79. The stock had a trading volume of 970,469 shares, compared to its average volume of 910,131. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -2.83 and a beta of 1.06. The company has a current ratio of 2.60, a quick ratio of 2.55 and a debt-to-equity ratio of 31.23. The Medicines has a 12-month low of $23.22 and a 12-month high of $41.57.

In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $39.31, for a total value of $1,965,500.00. Following the transaction, the chief executive officer now directly owns 352,409 shares in the company, valued at approximately $13,853,197.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.29% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new position in shares of The Medicines during the 2nd quarter worth about $210,000. NumerixS Investment Technologies Inc purchased a new position in shares of The Medicines during the 2nd quarter worth about $229,000. Xact Kapitalforvaltning AB lifted its holdings in shares of The Medicines by 28.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock worth $338,000 after acquiring an additional 2,300 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of The Medicines during the 2nd quarter worth about $443,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of The Medicines during the 2nd quarter worth about $449,000.

About The Medicines

The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.